Macerich (MAC)
Owner and operator of U.S. regional malls with in-house leasing and redevelopment.
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Owns, leases, manages and redevelops regional retail centers across the United States, earning primarily tenant rent and expense reimbursements. Its integrated operating platform and asset-recycling program concentrate capital on a go-forward portfolio, while results remain tied to retailer demand, mall traffic and financing access.
Acquires, owns, leases, manages, develops and redevelops regional retail centers across the United States, with a much smaller community/power-center presence. Mall stores, restaurants and freestanding tenants supply most rent, while anchors help drive traffic; some centers also include adjacent office, hotel and residential space.
Runs leasing, property operations and redevelopment through an integrated in-house platform, with on-site teams tailoring tenant mixes to local trade areas. The Path Forward program concentrates investment on a go-forward portfolio, disposes of selected noncore assets, consolidates some joint ventures and adds targeted acquisitions.
Results depend on tenant demand and creditworthiness, store openings and closures, consumer traffic, refinancing access and redevelopment execution. The portfolio is concentrated in California, New York and Arizona, and REIT status requires annual taxable-income distributions.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Evercore ISI | Upgrade | Rating: — | |
| Sep 21, 2026 | Evercore ISI Group | Upgrade | ||
| Sep 1, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $19 | Target: $21 |
| Aug 27, 2026 | Piper Sandler | Upgrade | Target: $28 | Target: $30 |
| Aug 18, 2026 | Griffin | Target | Target: — | Target: $26 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $227.0M · Total debt $4.85B · Total assets $8.52B · Shareholders' equity $2.83B
- Revenue
- $249.7M
- Operating income
- −$27.7M
- Net income
- −$27.1M
HistoryDividendAnnual yield
| Institutions | ≈ 111.06% | 314.92M shares | |
|---|---|---|---|
| 359 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.32% | 901.7K shares | |
| 9 holders · as of Sep 9, 2026 | |||
| Adds to | 111.38% | ||
283.56M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 111.38%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 19.30% | 54.74M | as of Jun 30, 2026 |
FMR LLCInstitution | 11.10% | 31.46M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.63% | 27.31M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.76% | 16.34M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.47% | 12.68M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Christopher J. Zecchini | officer: Chief Accounting Officer | −2,740 | $23.28 |
| Sep 24, 2025 | Marianne Lowenthal | director | −6,000 | $17.13 |
- Simon Property Group
Direct mall and outlet peer with far larger retail scale
- Kimco Realty
Open-air grocery-anchored scale competes for retail demand
- C.B.L. & Associates Properties
Regional mall peer in middle-market retail properties
- Regency Centers
Grocery-anchored community centers compete for tenants
- Federal Realty
Premium open-air and mixed-use retail rival
- Brixmor Property Group
Large open-air portfolio competes for anchors
- Tanger
Outlet-center specialist in a named competing format
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Macerich | $22.70 | −0.46% | $6.78B | — | 1,570.8 | 6.7 | −0.0% |
| Simon Property Group | $205.41 | −0.26% | $66.79B | 14.6 | 30.4 | 9.6 | +10.8% |
| Kimco Realty | $22.36 | −0.80% | $15.20B | 25.3 | 26.1 | 6.9 | +4.9% |
| C.B.L. & Associates Properties | $53.23 | −1.38% | $1.67B | 7.8 | — | 2.8 | +0.8% |
| Regency Centers | $73.49 | −0.06% | $13.43B | 20.8 | 29.1 | 7.8 | +5.7% |
| Federal Realty | $110.28 | −0.16% | $9.54B | 22.0 | 34.9 | 7.1 | +7.7% |
| Brixmor Property Group | $27.82 | −0.50% | $8.58B | 20.0 | 27.8 | 6.1 | +4.3% |
| Tanger | $35.23 | −1.05% | $4.09B | 32.4 | 31.4 | 6.7 | +11.1% |
| Median | 20.8 | 29.7 | 6.9 | +5.7% |